Vulcan Elements raises $65mn and begins rare earth magnet production

Vulcan Elements

Vulcan Elements raises $65mn and begins rare earth magnet production, advancing US magnet reshoring. Vulcan Elements raises $65mn and begins rare earth magnet production to scale NdFeB output. The funding accelerates capacity toward several thousand tonnes by decade end.

Series A fuels rapid US magnet scale-up

Altimeter Capital led the $65mn Series A with One Investment Management participating. The round propels commercial ramp-up and customer qualification. Vulcan targets several hundred tonnes within a few years. It then plans several thousand tonnes by decade end. These milestones align with defense and semiconductor procurement cycles.

NdFeB magnets for defense and high-tech demand

Vulcan produces sintered neodymium-iron-boron magnets in North Carolina’s Research Triangle Park. The magnets meet defense and commercial specifications. End uses span drones, robotics, autos, HDDs, and fab equipment. Near-term supply will reach all US military branches and allied tech firms. This broad demand supports multi-year offtake planning.

Secure, allied supply chains and traceability

Vulcan sources materials and tools from the US and allied countries. As a result, buyers gain traceability and compliance confidence. The strategy reduces exposure to geopolitics around rare earths. It also fits US policies on critical minerals and domestic manufacturing. Vulcan Elements raises $65mn and begins rare earth magnet production at a timely moment for resilience.

The Metalnomist Commentary

Vulcan’s domestic NdFeB line tightens a fragile magnet supply chain. If scale and yields hit targets, US defense and EV sectors gain leverage. Watch for upstream partnerships in oxides and metal to lock unit costs.